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Free AccessDeputy Prime Minister Borisov May Resign Amid Quiet Cabinet Reshuffle
Russia's Deputy Prime Minister for Defence and Space Industry Yuri Borisov is preparing to step down in the near future, several sources familiar with the matter told RBC, and more ministerial replacements may be in store.
- Borisov's potential departure coincides with President Putin's decision to increase the number of Deputy Prime Ministers to 11 from 10. The new position will likely be taken by Industry and Trade Minister Denis Manturov in addition to his current portfolio, pending approval of the State Duma. Local media outlets suggest that some of Borisov's responsibilities could be transferred to Manturov.
- Izvestia cites sources noting that the Duma does not rule out further high-profile government nominations and more names can be unveiled as soon as this Friday, when lawmakers are set to vote on Manturov's appointment. The list of senior officials that could be replaced includes Accounts Chamber chief Alexei Kudrin and Minister of Digital Development, Communications and Mass Media Maxut Shadayev.
- It is worth noting that Kudrin is a liberal-leaning fiscal hawk who nonetheless belongs to Putin's inner circle and is believed to have tried to warn the President against the economic cost of his war on Ukraine. Meanwhile, Shadayev's Ministry oversees Roskomnadzor, Russia's main media censor.
- Changes to the Cabinet line-up seem to be part of ongoing efforts to prepare the country for a prolonged period of living under Western sanctions. The government has been drafting plans for import substitution programmes and the development of domestic industry, with Manturov expected to play a key role in their implementation.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.